There Are Three Directors' Seats Up for Election

question 26

Multiple Choice

There are three directors' seats up for election.If you own 1,000 shares of stock and you can cast 1,000 votes in each of the three elections,then the firm uses the voting procedure referred to as:

• A)cumulative voting.
• B)absolute priority voting.
• C)sequential voting.
• D)straight voting.
• E)market share voting.

---

Definitions:

Equilibrium Quantity

The quantity of goods or services supplied that is equal to the quantity demanded at the equilibrium price.

Marginal Social Cost

The cost to society of producing one additional unit of a good or service, incorporating both the private costs and any external costs.

Consumer Surplus

The gap observed between the consumer's desired price for a good or service and the price that is actually paid.

Marginal Benefit

The extra benefit or pleasure that someone receives from using an additional unit of a specific good or service.